🚨 94% of XRP holders are in profit: Has the price reached a peak? 🚨
📊 Key Points:
The rise of XRP to over $3 has pushed 94% of the circulating supply in the market into profit, a historically significant level that indicates a potential peak.
On-chain indicators show that XRP is in the "belief – denial" zone, similar to the peaks in 2017 and 2021.
💹 Why is this important?
High profit levels usually increase the risk of selling to realize profits.
In 2018, when over 90% of holders were in profit, XRP experienced a 95% drop.
In 2021, profits of over 90% preceded a collapse of around 85%.
⚠️ Technical Risks:
XRP is moving within a descending triangle after surpassing $3, and breaking the support at $3.05 could lead to a potential drop to $2.39 (~23% decline).
To continue the ascent, the price must break the descending resistance line and demonstrate new bullish strength.
📈 Positive Scenario:
Attracting new inflows from institutional investors or support from altcoin movements could help XRP resist the downturn and avoid a larger correction.
💡 Conclusion:
Investors are currently in profit, but there is a possibility of a significant correction if they start to take profits. Technical analysis indicates a critical support level at $3.05, and a rise in NUPL towards greed levels could spark widespread selling.